Egg Loophole Discussion Area

Matti_2

Is this the regular monthly statement that has to declare that balance has been cleared or can you just wait for the recent transaction section to show the money has been repaid before going for another bt?

i cleared my balance and to make sure have waited till the statement says £0, then i am BT. i asked Egg and they said to be sure you don't get charged interest wait till the statement is issued for £0.

what i didn't want happening was to clear the balance, then BT, the statement be issued and then Egg say that the payment i made to clear the balance comes off the BT instead of the purchases. i am just playing it safe so they have no come back.

System

I recieved the email from egg saying that I could immediatley transfer at 0% until the end of August. June is my anniversary month so presumably I could transfer the balance off and back on then, in order to extend my total interest free period until November?

Yah or Nah?!!!!

System

so, have I got this straight....I can only make the BT on the actual day of the anniversary - no leeway?

Margaret_Millne

I have just received this reply from Egg, when I queried whether payments made to clear the account before I did a balance transfer would be applied to earlier purchases or the balance transfers.

"The additional payments you've made have been applied to your outstanding balance up until the date of the payments. Any transfers made after this time haven't been affected by these payments in any way.

Your payments are added to your account as follows:
*Firstly to meet the minimum payments as outlined above
*Secondly against your balance transfers. We'll make payments to your oldest balance transfer first
*Any remaining monies will be paid off against your revolving balance (purchases).
"

The way I understand this is that the purchases have been cleared, and the balance transfers qualify for the full 0%.  I shall keep this email on hand until I receive my next statement, to check.

NoMonNoFun_2

As a one off offer, everyone with an Egg card gets 0% until 1 Aug 04, on balance transfers made before 31st March 04. Then on your birthday month you get 5 months on any transfers made then. I'm in May so I can switch my balance off and back on in May to get 2/3 extra months at 0%. Your lucky if you have a 'egg birthday' in July/August.

One thing I'm not sure about on this 5 month 0% is when it ends. My birthday month is May. So If I do a BT on 10th of May do I get interest free until 10th November, or 1st November, or 31st November, or my repayment date in November??

Cheers

System

it isn't everyone who gets the offer - only selected customers I've been told????

Lawnmower_Man

Somebody help please :-[

Have just been to egg site to apply for this anniversary BT card but it says nothing on the site about the being able to BT up to 2006.

Am I missing it or something. Don't want to apply and use up a credit check, so to speak, when I could go for another card like MBNA.

Cheers

LM

Margaret_Millne

Lawnmower Man:

You must already have an Egg card, and have held it for a year, then you get the offer on the anniversary of when you got the card.

Everyone else:

As far as it being only for selected people, everyone in our family has been offered it, from my husband who has had a card for several years, to my son who has had his for just over a year.

My daughter also queried the payments versus balance transfer and when the account is considered clear.

Here is the reply they sent her:

Yes, good news.

The payments made cleared your balance before the transfer was placed on the account.

This means the balance transfer is now interest free until the 1st August 2004 and you'll only be charged interest if you make a purchase or cash advance between now and then.

So it would appear you do not have to wait for your statement, just leave it a day or two after clearing the account to do the balance transfer.

System

Hi Martin or anyone else who can help. I have an Egg Card (currently zero balance) and have an egg Loan currently just over £6k @ 6.9%. I also have Accucard at 0% for BT and Capital One at 3.9% for life of BT. My question is how can I get rid of my loan at 6.9% and move it to one of the credit cards at either 0% or 3.9%?....The 2 credit cards mentioned above will not pay off the Loan directly which is a bummer......I'm sure there's a way I just am not experienced enough to know what it is!!... :-/

Margaret_Millne

I think you can do a balance transfer between one of the cards and your egg - putting the egg card in credit. The egg card will allow you to balance transfer into your current account. Once there use it to pay off your loan.

Does this make sense? I think strictly speaking Egg say you can't use the money you put into your current account to pay off other Egg debt, but how can they know if you do this???